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Dec 30, 2012
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tax hook would only fund the government for eight days. americans deserve to know what is the president -- what does the president propose we do for the other 357 days of the year. >> reporter: president obama insists his plan on the table is fair and includes plenty of cuts to government spending. >> we just can't afford a politically self-inflicted wound to our economy. >> reporter: if sunday's negotiations don't pan out, the president said he's ready to propose his own scaled-back bill that would block tax increases for all but the wealthy. and preserve expiring unemployment benefits. with the deficit ticking ever higher, patience is wearing thin. >> for those of us who invest in the stock market, it's disgusting to watch them jockey around with our money. >> reporter: missing in all the last-minute negotiations is talk of the $1.2 trillion of mandatory spending cuts scheduled to go into affect today. tara mergener for cbs news, washington. >>> former president george h.w. bush is 88 years old and sent to the hospital last month in hous
tax hook would only fund the government for eight days. americans deserve to know what is the president -- what does the president propose we do for the other 357 days of the year. >> reporter: president obama insists his plan on the table is fair and includes plenty of cuts to government spending. >> we just can't afford a politically self-inflicted wound to our economy. >> reporter: if sunday's negotiations don't pan out, the president said he's ready to propose his own...
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Dec 30, 2012
12/12
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and they are taxed again at the individual level. with the dividend and capital gains taxes. george bush, to his credit, tried to do something about that and he chopped the dividend and capital gains tax down to 15%. the effect of that was to reduce the incentive for corporations to take on too much debt. if you tax equity too much, corporations take on too much debt. then it's more likely that they become bankrupt and to destabilize the whole system. gerri: you talk little bit about competitiveness. let's detail that. low capital gains is important to our nation's competitiveness. but also, to the competitiveness of these companies that we are talking about. >> absolutely. let's say that you are a young indian or chinese entrepreneur with a science degree or engineering degree and you gradua from mit. you want to start a high-tech company. would you started in the united states, where you're getting from your company years down the road will be taxed at 30%, or would you started in china or india where the capital gains tax rate is zero? many of our major partners have zero
and they are taxed again at the individual level. with the dividend and capital gains taxes. george bush, to his credit, tried to do something about that and he chopped the dividend and capital gains tax down to 15%. the effect of that was to reduce the incentive for corporations to take on too much debt. if you tax equity too much, corporations take on too much debt. then it's more likely that they become bankrupt and to destabilize the whole system. gerri: you talk little bit about...
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Dec 30, 2012
12/12
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, tax reform and tax incentives for charitable giving. back to the phones. jack in michigan, on our line for independence. go ahead, jack. caller: i want to ask mr. rosenberg if he has ever heard of lincoln electric in cleveland, ohio. host: and why did he wanted to know that? caller: well, they wrote a book, james f. lincoln wrote a book, a new approach to industrial economics where they have no unions. everybody is responsible for their own work. they do peace work. everybody's responsible. everybody has a lifetime job. they get huge pieces of the pie. and ownership is -- the people, the workers, everybody owns the piece of the pie. host: what does this have to do with the fiscal cliff? caller: well, if more -- if more people -- if more industries would go to that, they wouldn't fall off the cliff. everybody would go to work. host: mr. rosenberg? guest: so i haven't heard of that but it sounds like a great place to be and live. i would have to get the name of that again. host: next up is don on the washington redskins. -- "washington jo
, tax reform and tax incentives for charitable giving. back to the phones. jack in michigan, on our line for independence. go ahead, jack. caller: i want to ask mr. rosenberg if he has ever heard of lincoln electric in cleveland, ohio. host: and why did he wanted to know that? caller: well, they wrote a book, james f. lincoln wrote a book, a new approach to industrial economics where they have no unions. everybody is responsible for their own work. they do peace work. everybody's responsible....
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Dec 31, 2012
12/12
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a small down payment, a tax rate increase and some of the spending measures and some of the other tax measures and perhaps instructions for the next six to eight months to congress to work on entitlement and spending reform and broader tax reform package. but all those specific details when you talk about entitlements and spending on the bigger side. $3-4 trillion deal that would have to be filled in over the next year. >> all right. rich, we appreciate it. just a reminder, 5:00 a.m., cheryl casone will have the latest on overseas trading but also any potential deal or leak that has a deal may be in the works. find out right here on the fox big network. fox business network team starting here at 5:00 a.m. here in new york city. that wraps it right now. we're going to go back to our programming. we are talking cometely off-the-cuff, but we know will not be at 250. i think carrie reed has problems from new york like dianne feinstein of california, and 250 will be a big pill to allow. this is a fiscal cliff that we can have 50 days, 60 days down the road. it does not fix the problem if y
a small down payment, a tax rate increase and some of the spending measures and some of the other tax measures and perhaps instructions for the next six to eight months to congress to work on entitlement and spending reform and broader tax reform package. but all those specific details when you talk about entitlements and spending on the bigger side. $3-4 trillion deal that would have to be filled in over the next year. >> all right. rich, we appreciate it. just a reminder, 5:00 a.m.,...
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Dec 28, 2012
12/12
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WUSA
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taxpayers whose taxes would go up on average $3,500 a year. many americans are frustrated the showdown has gone down to the last-minute. >> they're playing games with people's lives. and i don't mean that's correct. >> it's just unfortunate that at this point, the two sides can't come together because it's been like that for the last four or five years. >> reporter: two million americans will also lose jobless benefits on saturday if a deal isn't reached. and the nation's borrowing limits to finance our $16 trillion debt will also be reached on monday. danielle nottingham, cbs news, washington. >>> three new jersey police officers were shot and their police station this morning. the shooter domestic assault suspect got a gun and started firing. it happened in the township in camden county east of philadelphia. the gunman was shot and killed. the wounded officers are expected to recover. >>> also the second time this month, someone has been pushed to their death on new york's subway tracks. the nypd says that it was a woman who pushed the male
taxpayers whose taxes would go up on average $3,500 a year. many americans are frustrated the showdown has gone down to the last-minute. >> they're playing games with people's lives. and i don't mean that's correct. >> it's just unfortunate that at this point, the two sides can't come together because it's been like that for the last four or five years. >> reporter: two million americans will also lose jobless benefits on saturday if a deal isn't reached. and the nation's...
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Dec 31, 2012
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today's the deadline to file for the homestead tax credit which limits how much your tax increase each year. you can file the paperwork electronically. you can also download the application and mail it in but it must be postmarked by today. we also have a link to the application on our website, wbaltv.com. >> baltimore city detectives are handling new shootings over the weekend. on stanwyck avenue at 1:30 yesterday, they found an adult male with a gunshot wound to the back. in northwest baltimore, the search continues for the person who shot a man following an argument on cordelia ave. this happened not long after 12:30 sunday morning. despite the fact the victim was shot in the head, he is expected to survive. >> police are called once again to a glen burnie bar that has been this scene of several shootings in recent years in glen burnie. a man was shot on the side parking lot of dietrich's tavern. that same tavern was the scene of two other murders. police said they have a description of the suspects but have made no arrests. a baltimore county teenager is recovering at home after be
today's the deadline to file for the homestead tax credit which limits how much your tax increase each year. you can file the paperwork electronically. you can also download the application and mail it in but it must be postmarked by today. we also have a link to the application on our website, wbaltv.com. >> baltimore city detectives are handling new shootings over the weekend. on stanwyck avenue at 1:30 yesterday, they found an adult male with a gunshot wound to the back. in northwest...
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Dec 30, 2012
12/12
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about whether to raise taxes, tax rates on anybody. you're going to begin to see this conversation as the conversation moves forward. the rifts in the democratic party about what programs should be cut and what programs should be saved. and i think that's a little of what you're seeing now. i don't know if it's enough to sort of throw the whole deal out. i think only those folks -- you did hear the folks, senator mcconnell saying i've called my friend joe biden, can he get to the president. it's clear that the democrats are saying that the president is the one who won't -- you know, who doesn't want to put up a counteroffer. so we'll see. >> changes by the hour. >> candy crowley, thank you as always, we'll be in touch. >> all eyes continue to be in washington as the cliff gets closer, the president insists 0 a tax hike for the rich. but the republicans won't budge. something has got to give. a.b. stoddard weighs in. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and
about whether to raise taxes, tax rates on anybody. you're going to begin to see this conversation as the conversation moves forward. the rifts in the democratic party about what programs should be cut and what programs should be saved. and i think that's a little of what you're seeing now. i don't know if it's enough to sort of throw the whole deal out. i think only those folks -- you did hear the folks, senator mcconnell saying i've called my friend joe biden, can he get to the president....
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Dec 30, 2012
12/12
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FBC
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we have a current tax rate, 15%. on january 1, the capital gains tax ra will jump to 23.8%. i talked to a lot of my frien and they say that's not a big dumb. what you say? >> it is a big jump. if you add state taxes on top of that, the united states will be up to 20%. our major trading partners, britain and europe and canada -- they are oly 16%. so there is a very good reason why just about every industrial country has a really low capital gains tax rate. that's because policymakers just about everywhere know that low capital gains tax rates are crucial for a growthof economy and entrepreneurship and high-technology industries. gerri: so what if we compare favorably with a lot of developed countries out there -- what would be the practical effect? >> it will slow the flow of venture capital and investment for high-technology companies. if you think about every major high-tech company like apple or microsoft or ebay or amazon, they were all nurtured by high income people putting money in early on to these startup companies. we dramatically cut the capital gains ta rate from 4
we have a current tax rate, 15%. on january 1, the capital gains tax ra will jump to 23.8%. i talked to a lot of my frien and they say that's not a big dumb. what you say? >> it is a big jump. if you add state taxes on top of that, the united states will be up to 20%. our major trading partners, britain and europe and canada -- they are oly 16%. so there is a very good reason why just about every industrial country has a really low capital gains tax rate. that's because policymakers just...
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Dec 29, 2012
12/12
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taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximately eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any politicians talking reality but the fiscal problems facing the country which is democrat or republican. tom: do you have any hope that the blame game can be put aside so they can get some work done? in the private sector these people would be fired. >> absolutely. this is a do nothing congress, the least active in fur years when it comes to policy making, and the reason we are here is that the delay decisions for the past two years. i do think that something will happen because if it doesn't the consequences will be so severe in th
taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximately eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any...
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Dec 27, 2012
12/12
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payroll tax will go away almost certainly. your payroll tax is almost smaller. gerri: your first paycheck will be smaller in the new year, right? >> no question. it will try to avoid the first paycheck, and for the bush tax cuts, but there's no guarantee they can keep i that up for very long. this is a story where the checks get smaller and the economy is weaker very quickly. gerri: let's talk about entitlement programs and the impact on them. social security will have a deficit this year of $6 billion yet again. can't keep up with social security. what is the longer-term impact of what is going on on these programs? >> we really do need to have a deal on a big problem, which is the national debt larger than the economy, driven by broken entitlement programs. medicare has a huge deficit, $300 billion every year. 10,000 new beneficiaries every day. medicaid deficit finance right now. those are key parts of a safe bet that we'll b will be fallinr their own financial weight unless they are fixed. what we really have to do on behalf of the next generation. gerri: th
payroll tax will go away almost certainly. your payroll tax is almost smaller. gerri: your first paycheck will be smaller in the new year, right? >> no question. it will try to avoid the first paycheck, and for the bush tax cuts, but there's no guarantee they can keep i that up for very long. this is a story where the checks get smaller and the economy is weaker very quickly. gerri: let's talk about entitlement programs and the impact on them. social security will have a deficit this year...
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Dec 27, 2012
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harry reid's plan will avoid tax creases for -- tax increases for people making too large and $50,000. >> you will see a two-step process here, one with the media dynamic so you can set up a situation where you can deal with a larger situation. >> without a deal, bush-era tax cuts will expire january 1 and spending cuts will set in. counters -- congress has set a deadline but so far that has backfired. now there is a new warning from the treasury secretary that this country is about to hit its debt limit and needs to act fast. in washington, danielle leigh, nbc news. >> as we head to the new year, a number of new laws are set to effect here in maryland. one allowing gay couples to marry as of january 1. another new law states baltimore city elections will be held on the same cycle as the presidential election, meaning officials will get an extra year in office. as of january 1, a parent or guardian will have the right to free credit reports to protect kids and disabled adults from identity theft. it is hoped it will protect foster children, who are especially vulnerable. >> we are hop
harry reid's plan will avoid tax creases for -- tax increases for people making too large and $50,000. >> you will see a two-step process here, one with the media dynamic so you can set up a situation where you can deal with a larger situation. >> without a deal, bush-era tax cuts will expire january 1 and spending cuts will set in. counters -- congress has set a deadline but so far that has backfired. now there is a new warning from the treasury secretary that this country is about...
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and if you don't do that, the taxes are going to go. gerri: all right, we are going to take a break right now. but we will break into programming the minute that anybody goes to the senate if we hear from the vice president. rich edson is covering all this for us on capitol hill. the fox business team is in place here on sixth avenue. two hours left from the fiscal cliff. the revelers are ready to party, and we are here for you all night. back to the programming totion e that injunction against the contraceptive mandate? >> it is a surprisingri, pringlehey lt be >> a christian-based company, and they think that that is part of their credo, and 10mandment l commandments, the golden rule. the living hearing purchase pilt will kill babies. we are not going to do it. but the circuit court, the appeals court said we are going to hold up that ruling against it. in this particular case, the court says you are right that your religious exercise is something limited. you can still were shut and you say to that you are limited wit. rtgard to obam
and if you don't do that, the taxes are going to go. gerri: all right, we are going to take a break right now. but we will break into programming the minute that anybody goes to the senate if we hear from the vice president. rich edson is covering all this for us on capitol hill. the fox business team is in place here on sixth avenue. two hours left from the fiscal cliff. the revelers are ready to party, and we are here for you all night. back to the programming totion e that injunction against...
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Jan 1, 2013
01/13
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CSPAN2
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a huge loophole in the estate tax. a very low tax on dividends. and only the very top tax bracket for the wealthiest among us was touched at all. it wasn't the $250,000 level that president obama had said he was fighting for. it was $400,000 plus. there aren't many folks who are at that level and only that top bracket was touched. so if you are very well off in america, you got a very good deal last night but america got a big problem, which is the potential for enduring deficits, structural deficits that undermine the soundness of our future finances. in addition, the bill that we considered last night created some additional fiscal cliffs in the very near future, within two months, within march. and one is that it doesn't address the debt ceiling. now, debt ceiling isn't about what we spend, not about the decisions on what we spend, it's whether or not we're going to pay the bill after the spending has been authorized. it's like saying to yourself, you know, when the credit card bill comes, i'm just not going to pay it. because i shouldn't have
a huge loophole in the estate tax. a very low tax on dividends. and only the very top tax bracket for the wealthiest among us was touched at all. it wasn't the $250,000 level that president obama had said he was fighting for. it was $400,000 plus. there aren't many folks who are at that level and only that top bracket was touched. so if you are very well off in america, you got a very good deal last night but america got a big problem, which is the potential for enduring deficits, structural...
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Dec 27, 2012
12/12
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and lower tax rates. david: the president will not -- he did say so you, by the way. said so in july of 2011. give us 1.2 trillion in additional revenues which could be accomplished without hiking tax rates and then in september 2011, he came out with his own budget in which he said the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. the president said that just a year ago. >> ideology has trumped that practicality. brief period of practicality he had after the shellacking he took in the 2011, 2010 lech ounce is. now he is back to the old mode. we're all paying a price for it. david: okay. final question, is there any way we grow with a president who will not sign on to anything but higher tax rates for the rich? >> at best we'll have a stalled or gone 10 miles-an-hour on a super highway. david: you're not investing any of your money. >> i'm long term. i'm not going to try to time this market because when it turns it will be sudd
and lower tax rates. david: the president will not -- he did say so you, by the way. said so in july of 2011. give us 1.2 trillion in additional revenues which could be accomplished without hiking tax rates and then in september 2011, he came out with his own budget in which he said the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. the president said that just a year ago. >> ideology has trumped that...
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Dec 27, 2012
12/12
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KTVU
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economists say the decline is due to fears of sharp tax increases and government spending cuts set to take effect next week. barkley is considering a plan to change the face of downtown with the first high rise in that city in 40 years, a los angeles real estate group today submitted and application for the plan which calls for a 17 story luxury apartment complex on harold way by the downtown bart station. the plan includes a rooftop garden, conference center and four levels of underground parking. if approved the development would transform the block long harold way there in berkeley. the project is expected to face opposition from pest veryvationist. the developer wants to tear down the back of that. >>> former president george h.w. bush is in guarded condition at a houston hospital. a spokesman says he is alert talking with staff and surrounded by his family. he was moved to the intensive care unit on sunday and been in the hospital since last month for complications related to bronchitis. >> they don't put you in icu because things are going well, we are hoping the medicines and t
economists say the decline is due to fears of sharp tax increases and government spending cuts set to take effect next week. barkley is considering a plan to change the face of downtown with the first high rise in that city in 40 years, a los angeles real estate group today submitted and application for the plan which calls for a 17 story luxury apartment complex on harold way by the downtown bart station. the plan includes a rooftop garden, conference center and four levels of underground...
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Jan 1, 2013
01/13
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CNBC
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and the alternative minimum tax and capital gains and those are the outlines of the tax portions of the deal still not buttons up yet. >> we will see you later in the program. we appreciate everything you have done today and we have more information from amon. what are you hearing? >> we are expecting that vice president biden might be coming up here to talk to democrats. a lot of these members do not like being here on new year's eve. they are working through a lot of the scoring details of a new package here. but he expects that there might be a vote in the next couple of hours in the senate. take a listen. >> it is not something that any of us would say oh, i love it. i don't live love it but i thin good job of negotiating where there are some wins and losses and it is about even. >> house republicans are keeping their powder dry. >> he wants to wait and see it on paper before he commit to voting for it. so right now at least we don't know whether a deal that is likely to pass in the senate could pass the house of representatives. are you surprised and isn't it interesting that vice
and the alternative minimum tax and capital gains and those are the outlines of the tax portions of the deal still not buttons up yet. >> we will see you later in the program. we appreciate everything you have done today and we have more information from amon. what are you hearing? >> we are expecting that vice president biden might be coming up here to talk to democrats. a lot of these members do not like being here on new year's eve. they are working through a lot of the scoring...
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Dec 30, 2012
12/12
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estate tax, that's a big sticking point. the senate republicans will insist it sticks at its current rate. >> thank you. we'll be back in a moment. this is "hard ball," the place for politics. [ buzzing ] for politics. bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. starts with arthritis pain and a choice. take tylenol or take aleve, the #1 recommended pain reliever by orthopedic doctors. just two aleve can keep pain away all day. back to the news. "are you a cool mom?" i'm gonna find out. [ female announcer ] swiffer wetjet's pads are better than ever. now they have the scrubbing power of mr. clean magic eraser so you don't have to get down on your hands and knees to scrub away tough, dried-on stains. hey, do you guys think i'm "momtacular" or "momtrocious"? ♪ [ female announcer ] swiffer. now with the scrubbing power of mr. cl
estate tax, that's a big sticking point. the senate republicans will insist it sticks at its current rate. >> thank you. we'll be back in a moment. this is "hard ball," the place for politics. [ buzzing ] for politics. bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. starts with...
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Dec 31, 2012
12/12
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FOXNEWSW
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to be the social security tax will be alternative minimum tax will be. it is like a third world country we are right to blame both parties in congress because they have to get their act together and get this done. >> i don't just blame both partys in congress i blame the president, too. this is about rolling up your sleeves making phone calls i remember whether it's lyndon johnson or bill clinton or ronald reagan they knew how to work the telephone. that's not happening here. >> it isn't. i think there's blame on both sides. one of the frustrations when i go to republican source on capitol hill they say the president is in the same place negotiation as he was 6 weeks ago that is to say you were right when there was spending problem. we are spending 1.2 trillion more than we take in. the amazing thing five, six weeks into the negotiations the president hasn't proposed a single spending cut. it is an amazing thing. >> this is what is so incredible. there isn't any discussion other than the blame game. i will talk about this later in the show the president
to be the social security tax will be alternative minimum tax will be. it is like a third world country we are right to blame both parties in congress because they have to get their act together and get this done. >> i don't just blame both partys in congress i blame the president, too. this is about rolling up your sleeves making phone calls i remember whether it's lyndon johnson or bill clinton or ronald reagan they knew how to work the telephone. that's not happening here. >> it...
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Dec 31, 2012
12/12
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CNBC
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tax absolutely. we can give reasonable benefits, controlled, smart spending with, do all those things and keep tax cuts at a reasonable rate. >> with the average single income household. let's say the man works, wife doesn't, or vice versa. it is $6 used versus every $1 paid in. 6-1. can clearly unsustainable. >> we need far more fundamental reform. what the governor expects to avoid massive tax increases. >> who's got the guts to do that? feels as if kufrnt congrecurren do not, jimmy. >> the president trashed it in the campaign. i think that's the medicare reform we need. does that mean revenue is at 18% of gdp for infinite? i don't know about that. >> i would like to ask you, governor, what did you think of what obama was saying? do you feel he moved the ball forward or backwards? >> i think the deal will go down regardless because the embarrassment would be so great for not going it. >> who in particular do you think is causing that embarrassment? >> i think washington, d.c. everyone. rs everyone.
tax absolutely. we can give reasonable benefits, controlled, smart spending with, do all those things and keep tax cuts at a reasonable rate. >> with the average single income household. let's say the man works, wife doesn't, or vice versa. it is $6 used versus every $1 paid in. 6-1. can clearly unsustainable. >> we need far more fundamental reform. what the governor expects to avoid massive tax increases. >> who's got the guts to do that? feels as if kufrnt congrecurren do...
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Dec 28, 2012
12/12
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FOXNEWSW
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trying to cut taxes. if you are not happy to have -- >> bob: i think the republicans trying to do something good is absurd. >> greg: look at harry reid. eloquence of a bails bondman. we elected gluttons to guard a fridge. >> kimberly: midnight raiding it. i was thinking frat boy to guard the bar but i went with the glutton. >> eric: both sides, though. >> andrea: the republicans can't do anything. they get blamed for everything. everything we agree with is courageous. >> greg: when private unemployment reaches double digits. >> andrea: coming up, mayor rahm emanuel -- rahm. why did i call him that? tore in nra for calling armed guards at school to keep america's chirp safe. greg will tell us why that is ironic for him and why the nickname is "ram" next on "the five." ♪ ♪ ♪ ♪ ♪ ♪ >> greg: according to bretbaffert news, the school has armed police officer. any sane parent would like that. like mayor rahm emanuel who sends the children to the school. or he said it's wrong to allow the same thing
trying to cut taxes. if you are not happy to have -- >> bob: i think the republicans trying to do something good is absurd. >> greg: look at harry reid. eloquence of a bails bondman. we elected gluttons to guard a fridge. >> kimberly: midnight raiding it. i was thinking frat boy to guard the bar but i went with the glutton. >> eric: both sides, though. >> andrea: the republicans can't do anything. they get blamed for everything. everything we agree with is...
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Dec 28, 2012
12/12
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people are not propose iing mak the taxes like them. john boehner could not even pass the tax proposal he passed over there. he said no, can't do that. didn't he bring it up for a vote? >> tonight, speaker boehner's office put out this statement. >> joining me now are our guests. clearly the positioning game continues. harry reid saying we did our job months ago. do you think we til would be@posturing stage at the end of that white house meeting tomorrow? >> in your introduction you made the fundamental point here which is that this agreement before the end of the year, simply cannot go forward unless john by nor is willing to let it do so with majority democrats in the house. if we go over the curve as you put it, they can vote for a large tax decrease becaused off of the new rates that would be reset. they can say we votes to cut taxes for 98% of households. but it is the only scenario that i cap see out there in the near term. >> the building that read has passed. let's lis ep to what mitch mcconnell said about that? >> the senate bi
people are not propose iing mak the taxes like them. john boehner could not even pass the tax proposal he passed over there. he said no, can't do that. didn't he bring it up for a vote? >> tonight, speaker boehner's office put out this statement. >> joining me now are our guests. clearly the positioning game continues. harry reid saying we did our job months ago. do you think we til would be@posturing stage at the end of that white house meeting tomorrow? >> in your...
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Dec 24, 2012
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the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would end for 2 million americans. while these elements could have a recession-inducing effect, they could undo those measures shortly after the first of the year. estimations are if we do go over the cliff it would be the third quarter which the recession may hit. when be look at the issue of a -- the markets, however, may feel the brunt of the fiscal cliff fallout. the dow fell on friday after the deal failed the night before. last week fitch warned it may downgrade the u.s. credit rating if congress cannot reach a deal. some lawmakers are angling for the best political outcountry. >> when i listen to the president, i think he's eager to go over the cliff for political purposes. he gets all this additional tax revenue for new programs, gets to cut the military which democrats have been calling for for years, and he gets to blame republicans for it. implts joining me are off and o
the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would end for 2 million americans. while these elements could have a recession-inducing effect, they could undo those measures shortly after the first of the year. estimations are if we do go over the cliff it would be the third quarter which the recession may hit. when be look at the issue of a -- the markets, however, may feel...
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Dec 28, 2012
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the taxing authority. we have the constitutional authority and duty to go in there and tax and spend and create that budget. also we beat up obama and rightly so for the lack of transparency in the obama care debate and we are having four people negotiate the budget. put it back into paul ryan's hands and let's lead. >> i heard paul ryan's name mentioned. of course, his office, don't look at us. we support boehner. but look, if there was some revolt, if this thing is real and people will start mentioning ryan and it builds and builds and builds, i mean would he be somebody who said no to that? >> i think he would say no very quick. he might have other plans perhapses in 2016 and running for speaker, win, lose or draw would be bad for all those plans. i consider are this rahmer to be a three beer rumor which is after about the third beer people like we should replace boehner and that sounds like a good idea and repeat that enough and then it becomes a rumor. look, the staff i talked to on the hill, even the
the taxing authority. we have the constitutional authority and duty to go in there and tax and spend and create that budget. also we beat up obama and rightly so for the lack of transparency in the obama care debate and we are having four people negotiate the budget. put it back into paul ryan's hands and let's lead. >> i heard paul ryan's name mentioned. of course, his office, don't look at us. we support boehner. but look, if there was some revolt, if this thing is real and people will...
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Dec 31, 2012
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KRON
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the americans for tax reform. he was almost regenerating all signs from republicans, signatures -- from republicans. this became 2011, when it came to we had the demanded that it reduce the deficit. because of the debt ceiling without a deal, the u.s. would lose its ability to borrow money. democrats, republicans, wanted a stricter tactics that shut down the government and ultimately cost the american it is trouble a credit rating in the first time in history. at the last moment, they both agreed to a trillion dollars in spending cuts and 1.2 trillion to be decided by a special congressional super committee. but a poison pill was attached. if this cannot be reached, this automatic across-the-board cuts as the sequester would go into effect starting january, 2013. at the exact moment when the abortion-era tax cuts required-bush-era tax cuts could have been expired like they did two years ago but once we often got drowned out by seemingly endless and continuous elections in america. this time, there could be a serio
the americans for tax reform. he was almost regenerating all signs from republicans, signatures -- from republicans. this became 2011, when it came to we had the demanded that it reduce the deficit. because of the debt ceiling without a deal, the u.s. would lose its ability to borrow money. democrats, republicans, wanted a stricter tactics that shut down the government and ultimately cost the american it is trouble a credit rating in the first time in history. at the last moment, they both...
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Dec 29, 2012
12/12
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my taxes went up. fiscal cliff could cause some people's taxes to go up enough. adam: they tight enup spending. >> tight enup spending. lenders do the same thing on the backside. i don't know if you will have your job. i don't know if the credit rating will hold back letting money go. adam: what you described this is a great lesson in federal reserve speak. this is negative feedback loop. everyone tightening out of fear. let's take it a step further. we don't know what the tax situation will be and lay in tax returns, people use that for down payment when would they get that to put a down payment on a car, right. >> people think i don't have the money. maybe i don't want to maintain my existing car. we hope that is the case. nine out of 10 cars have something wrong with them on the road. if you don't do the basic maintenance that may be only way to keep your job to get your family to where they want to go. that is all dollars and cents. adam: in new york, nine out of tense cars the big problem is the driver in the other car. >> that is all across the country. ada
my taxes went up. fiscal cliff could cause some people's taxes to go up enough. adam: they tight enup spending. >> tight enup spending. lenders do the same thing on the backside. i don't know if you will have your job. i don't know if the credit rating will hold back letting money go. adam: what you described this is a great lesson in federal reserve speak. this is negative feedback loop. everyone tightening out of fear. let's take it a step further. we don't know what the tax situation...
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Dec 29, 2012
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>> well, the thing that will get them piqued is that tax rates. obama is preferring a $250,000 threshold, but in the process of trying to hammer out the deal, it is raised to $400,000 or $500,0 $500,000, and the base is going to be angry about that, and that is offset by satisfaction that some of the entitlement reforms that the president had signed off on earlier such as changing the structure for social security will not likely be in this deal, and obviously, everything remains to be seen, and the estate tax is a big sticking point, because obama wants to see it go up, and the senate republicans will insist that it stay at the current rate. >> thank you, robert costa and sam stein. we will be back in a moment. this is "hardball," the place for politics. >>> welcome back to hardball. what will a deal look like if there is one? and who is going to wind up giving up more on the tax cuts for wealthy americans? harry reid insists $250,000 is a threshold, but it may not hold. joining me now is josh green of bloomberg business week. josh, for the marke
>> well, the thing that will get them piqued is that tax rates. obama is preferring a $250,000 threshold, but in the process of trying to hammer out the deal, it is raised to $400,000 or $500,0 $500,000, and the base is going to be angry about that, and that is offset by satisfaction that some of the entitlement reforms that the president had signed off on earlier such as changing the structure for social security will not likely be in this deal, and obviously, everything remains to be...
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Dec 31, 2012
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on the taxes, just on the taxes, as they are structured now, if you look at the tax deal, comparing it to what the re-knew you would get over ten years, it's roughly $600 billion that they get revenue coming in from the tax deal they are striking with the framework tonight. hurricane sandy recovery billion is $60.4 billion. it's about the same annually. >> preclintonnian tax and spend democratic philosophy. you take in $60 billion a year from the rich. and it's simply you spend half of that on unemployment insurance. the rest of is it spent on all the credits, tax credits which are going to be undone. which will be retaped. if a cliff is avoided and the deal was accepted. you take the money and you spend money. this would increase the debt and deficit. republicans have one choice in the house. i don't know if boehner is able to do it. we'll go over the cliff of midnight tonight. the rates will be at the high rate. the bush tax cut will be over. if boehner is smart and the republicans including the conservatives in the caucus are smart, they would accept that, because there is no way it
on the taxes, just on the taxes, as they are structured now, if you look at the tax deal, comparing it to what the re-knew you would get over ten years, it's roughly $600 billion that they get revenue coming in from the tax deal they are striking with the framework tonight. hurricane sandy recovery billion is $60.4 billion. it's about the same annually. >> preclintonnian tax and spend democratic philosophy. you take in $60 billion a year from the rich. and it's simply you spend half of...
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Dec 27, 2012
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raising taxes for everybody making more than $250,000 a year and adding a few other tax-related items in there. maybe spending but it's unclear. the question is whether or not they can put all that together in a way to get enough republican votes in order to pass the senate and then would have to have enough votes to pass the house as well. whether they can do that in the next few days is an open question. >> just procedurally too, that takes time. and congress notoriously moves slowly. one wall street economist suggested, and this caught my attention, bun ji jump off the cliff. meaning we'll bounce back afterwards meaning once the tax hikes goes into effect congress will have no choice. they will have to introduce a bill that everyone can agree on. what's your take on that. what are your congressional sources saying to you privately? >> they are saying the betting money is on that right noug. it's an interesting way to put it. the whole concept of taking a vote in the next five days on anything would effectively would be to raise taxes. each of the senators would be taking a vote tha
raising taxes for everybody making more than $250,000 a year and adding a few other tax-related items in there. maybe spending but it's unclear. the question is whether or not they can put all that together in a way to get enough republican votes in order to pass the senate and then would have to have enough votes to pass the house as well. whether they can do that in the next few days is an open question. >> just procedurally too, that takes time. and congress notoriously moves slowly....
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Dec 31, 2012
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if they no taxes are going down, they will figure things. if they now taxes are staying the same, they will figure it out. right now it they are frozen -- they do not know. families are also in many ways frozen. they do not know whether they have to budget so that they will have $2,000 less next year. they do not know whether it will be $4,000. they do not now. the uncertainty is the fault of leaders who cannot get together. i think it is critical that we get a deal. i hope in the next couple of hours. to me -- somebody asked me, what is the difference if you get it now or five days from now? i say the difference is the uncertainty, this pall, an unnecessary and escalating crisis -- then you say, we do not have to do it now. we do it on the fourth. get it done. america wants us to get it done. the president has shown he is willing to be flexible. he has come out with some ideas i have had to except. he is willing. i know personally how strongly he feels that $250,000 should be where we draw the line in terms of tax breaks, but he was willing
if they no taxes are going down, they will figure things. if they now taxes are staying the same, they will figure it out. right now it they are frozen -- they do not know. families are also in many ways frozen. they do not know whether they have to budget so that they will have $2,000 less next year. they do not know whether it will be $4,000. they do not now. the uncertainty is the fault of leaders who cannot get together. i think it is critical that we get a deal. i hope in the next couple...
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Dec 27, 2012
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the alternative minimum tax which all of us, again, agree should not apply to 26 million americans. we agree on that. let's vote on that. let's create that certainty and move forward. let's create a path to move forward to deal with comprehensive tax policy in a fair and responsible way and let's deal with the deficit and the balance in a fair away. john boehner basically said no to all of that. and that's really not acceptable leadership. >> is there any -- should harry reid amend the bill that the house sent over at all? the fact is, harry reid has -- needs to add republican cooperation. he wants to say, look, this isn't a game. this isn't show. you know, i can bring out a bill, pass a bill. if john boehner says i'm not going to look at that, what's the point? let's make something happen here. that is what the american people are looking for. we're concerned about the fiscal and economic policies. there's a recovery period that we're experiencing to put more challenges before the economy both consumers and investors. let's create certainty. let's make sure that we pass tax cuts fo
the alternative minimum tax which all of us, again, agree should not apply to 26 million americans. we agree on that. let's vote on that. let's create that certainty and move forward. let's create a path to move forward to deal with comprehensive tax policy in a fair and responsible way and let's deal with the deficit and the balance in a fair away. john boehner basically said no to all of that. and that's really not acceptable leadership. >> is there any -- should harry reid amend the...
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Dec 28, 2012
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that's when automatic tax hikes and spending cuts go into effect. senate majority leader harry reid says even if something gets done now there may not be enough time to get it through congress. we'll just wait to see what happens. >> we have been waiting a long time. >> i know. >> hopefully the deadline will help. >>> we have a big holiday weekend and a wee bit of rain. >> that's this afternoon the right now it's cold. that's what we'll focus on in the meantime. cold temperatures are dipping below freezing now. look at fairfield, that's just dropped to 31 degrees. some people scraping some frost off their windshields this morning. 39 in vallejo. 35 santa rosa. so all that blue tells us it's chilly. and unfortunately by this afternoon, well, i guess it's fortunately if you like the cold weather, but it is going to be slightly cooler today than yesterday. a lot of low 50s. 52 santa rosa. only 50 in fairfield. a little more mild around the bay, 54 in oakland and fremont. as frank just mentioned, the rain, light rain set to hit the bay area friday after
that's when automatic tax hikes and spending cuts go into effect. senate majority leader harry reid says even if something gets done now there may not be enough time to get it through congress. we'll just wait to see what happens. >> we have been waiting a long time. >> i know. >> hopefully the deadline will help. >>> we have a big holiday weekend and a wee bit of rain. >> that's this afternoon the right now it's cold. that's what we'll focus on in the meantime....
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Jan 1, 2013
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the estate tax will remain tax free, the first $5 million of anyone's estate will be tax free in terms of the exceptions for the individual, the cap is expected to be index to inflation, so it will increase that $5 million every year according to inflation. finally, that so called doc fix, for doctors who accept medicare patients, that will go into effect. it will continue, it will not be paid for by the affordable care act. lots to dissect as we await final word from the democrats and the republicans. i want to go back to dana bash. dana, we know reid is on board, nancy pelosi is on board. mitch mcconnell, has he definitely signed off to this deal? >> yes. he actually was an early signer of the deal. because he, of course, was the point person on the republican side. i should say, i said yes pretty definitively. behind me, you see a gaggle of reporters, and he's probably going to be mad at me for doing this, but that's mitch mcconnell's spokes person talking to people about what's going on. hopefully i won't be proven wrong, but it's hard to believe i will. mitch mcconnell wient to th
the estate tax will remain tax free, the first $5 million of anyone's estate will be tax free in terms of the exceptions for the individual, the cap is expected to be index to inflation, so it will increase that $5 million every year according to inflation. finally, that so called doc fix, for doctors who accept medicare patients, that will go into effect. it will continue, it will not be paid for by the affordable care act. lots to dissect as we await final word from the democrats and the...
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Dec 30, 2012
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all the tax cuts including the tax cuts for the wealthy expire on january 1. so that is sort of a short term advantage. these programs, medicare, social security are incredibly popular. cutting them is unpopular. republicans' basic agenda is to cut them. some want to cut them or reform them for totally good reasons that costs are rising over time and as the population ages they take up more and more of the economy and more government spending. they are at a strategic disadvantage which is they want to cut programs that are incredib incredibly popular. anytime you are set against the consensus of public opinion it is a difficult course. you have to acknowledge that reality. as long as obama and democrats have that they will have the leverage as we repeat the negotiations in the decades to come. >> thank you for joining me. stick around we will be speaking with you two later this hour. >>> coming up the republican who is not afraid to stand up to his own party joins us live. what does he make of the sudden turn in the fiscal talks? is there still time to hammer
all the tax cuts including the tax cuts for the wealthy expire on january 1. so that is sort of a short term advantage. these programs, medicare, social security are incredibly popular. cutting them is unpopular. republicans' basic agenda is to cut them. some want to cut them or reform them for totally good reasons that costs are rising over time and as the population ages they take up more and more of the economy and more government spending. they are at a strategic disadvantage which is they...
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Dec 30, 2012
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and if no agreement, taxes will go up for all americans. in fact, the average american family would see a tax increase of more than $3400. as congress convened, even the senate chaplain praying to avoid what the president called self-inflicted wounds. let's bring in jon carl. the source has told you the vice president has been called in on this. >> reporter: that's right. i'm told the vice president is now playing a direct role in these negotiations, trying to get to a deal, a last-minute deal, a key player in the final hours. president obama set off the high-stakes weekend scramble friday night imemployering congressional leaders to take action immediately. >> the american people are not going to have any patience fora i politically self-inflicted wound to our economy. >> reporter: with that harry reid and mitch mcconnell launched a latch-dimp effort to craft a bipt plan to that stop the tax hike going into effect on new year's day. they negotiated all day saturday. saturday night there was an offer. by this morning, a clear sense of optim
and if no agreement, taxes will go up for all americans. in fact, the average american family would see a tax increase of more than $3400. as congress convened, even the senate chaplain praying to avoid what the president called self-inflicted wounds. let's bring in jon carl. the source has told you the vice president has been called in on this. >> reporter: that's right. i'm told the vice president is now playing a direct role in these negotiations, trying to get to a deal, a last-minute...
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would raise taxes only on families making over $250,000 a year. it would also extend unemployment benefits for two million americans. that could face an up or down vote in monday's session. >> we'll come in at 11:00 a.m. tomorrow morning and we'll have further announcements perhaps at 11:00 in the morning. i certainly hope so. >> reporter: so much at stake for your wallet because if we go off the fiscal cliff, it will be the largest tax increase since world war ii, not to mention the fact that if there is no deal, the markets may react any avery negative way. at the white house, ed henry, fox news. >>> till ahead on fox 5 morning news, when it comes to flying, there aren't but something passengers haven't had access to could soon be coming to a flight near you. >> first, secretary of state hillary clinton hospitalized after another health scare. we'll have an update on her condition this morning when we return. >>> bad weather is oregon is being blamed for a deadly tour bus crash. nine people were killed and dozens more in
would raise taxes only on families making over $250,000 a year. it would also extend unemployment benefits for two million americans. that could face an up or down vote in monday's session. >> we'll come in at 11:00 a.m. tomorrow morning and we'll have further announcements perhaps at 11:00 in the morning. i certainly hope so. >> reporter: so much at stake for your wallet because if we go off the fiscal cliff, it will be the largest tax increase since world war ii, not to mention...
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Dec 30, 2012
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the tax policy center has a tax calculator. so it allows you to estimate how your family could be affected. josh levs is here in atlanta breaking down the different scenarios. the only thing you can't say is i'm going to start a drinking game. don't say kick the can down the road. jifs not going to use that phrase. i have been covering this at cnn.com and doing everything i can to avoid saying things like that. the figure a lot of people know if you know any figure is $2,000 because president obama says it a lot. the average family will end up spending $2,000 more if the fiscal cliff is not averted. let me show you something. you can find out how it would impact you directly by using this. there's a lot of numbers you have to plug in to make sense of it. obviously it can't be exact, it can't be precise, it can't predict the future, but i want to show you some examples we have pulled out. let's go to the graphic here that has a few of the examples we're showing you here. it would take, for example, this scenario, married with no
the tax policy center has a tax calculator. so it allows you to estimate how your family could be affected. josh levs is here in atlanta breaking down the different scenarios. the only thing you can't say is i'm going to start a drinking game. don't say kick the can down the road. jifs not going to use that phrase. i have been covering this at cnn.com and doing everything i can to avoid saying things like that. the figure a lot of people know if you know any figure is $2,000 because president...
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Dec 28, 2012
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tell john boehner not to raise taxes. he'll raise them on all of us. the congress is on taxes. everything -- we shouldn't be debating this. congress should because tax bills, as you know, have to start, the constitution says, in the house of representatives. the fact that the white house is negotiating with the senate is a little bit surreal and ridiculous. >> hold on a second, mark. >> michelle, mark is right, it has to start in the house with spending or tax bills but there are two bills the house passed that are sitting in the senate. >> we ought to go over the fiscal cliff. i think we shouldn't make a deal where we're not -- we shouldn't raise taxes. we need entitlement reform, then we can talk. if there's no real entitlement reform, there's nothing we can do. democrats spend, spend, spend. now they have the bill, the fiscal cliff and they don't like the result. what are they going to do? it's time you actually put a stop -- >> we're going to have to leave it there. thank you very much. >> thank you. >> a case of extreme helicopter parents sued by their daughter for stalkin
tell john boehner not to raise taxes. he'll raise them on all of us. the congress is on taxes. everything -- we shouldn't be debating this. congress should because tax bills, as you know, have to start, the constitution says, in the house of representatives. the fact that the white house is negotiating with the senate is a little bit surreal and ridiculous. >> hold on a second, mark. >> michelle, mark is right, it has to start in the house with spending or tax bills but there are...
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Dec 29, 2012
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our guest is joseph rosenberg with the tax policy center, followed by a discussion on
our guest is joseph rosenberg with the tax policy center, followed by a discussion on